News Column

Edenville Energy Raises GBP0.25 Million In "Demand-Led" Share Placing

June 19, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Edenville Energy PLC Thursday it successfully raised gross proceeds of GBP0.25 million in a share placing, which it said will use to support the company's projects.

The African coal exploration and development company placed a total of 416.7 million new shares at a price of 0.06 pence per share.

Edenville Energy shares were trading 6.4% higher early Thursday, at 0.0745 pence.

"This modest placing is demand-led following the recent expression of interest from a multi-national conglomerate company in our Rukwa Coal-to-Power Project in Tanzania," said Chairman Sally Schofield in a statement.

Edenville didn't name the company, nor the buyers of the new shares.

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Source: Alliance News

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